- Skye9 Set to Drive Entertainment Industry with Digital Content
The African movie and entertainment industry, last week, received a boost with the launch of Skye9, a digital content and entertainment company in Lagos.
Skye9 said it was out to showcase the best of the African movies by Africans to Africans and by extension, the whole wide world, through digital content creativity and development as well as the Skye9 app that would be localised to address the African entertainment market.
Known for local content development for the broadcast industry through the Skye9 app, aside getting quality television and movie contents from foreign countries, and making them accessible to Nigerians at affordable rate, the digital and entertainment company said all lovers of African culture, within and outside the shore of Africa, would now have access to undiluted, down-to-earth and entertaining movie masterpieces.
Addressing the media during the launch in Lagos, the Business Development Manager, Skye9, Mr. Ayo Odusolu, said: “With just a token, Skye9 subscribers will have access to the vast range of Nollywood, Gallyhood and other African countries’ movie contents, anywhere in the world where there is internet access.”
According to him, the company is an indigenous, proudly Nigerian entertainment company that started operations fully in October 2016, with a target audience of between 16 to 70 years of age and with a determination to reach Nigerians everywhere they are, both resident in Nigeria and abroad.
Giving reasons for the launch of Skye9, Odusolu said: “It is apparent that technology in the developed economies of the world has so advanced to the point that there is probably an app for everything today for music, videos, chatting, especially in the entertainment industry.
This has brought convenience to their citizens. It is in a similar bid to bring premium but affordable entertainment in the most convenient format to Nigerians everywhere, that the Skye9 app and online platform were developed.
Describing the app, Odusolu said on this one app called Skye9 app, Nigerians will be able to download music, movies, and also do video calling and chatting and even social network features.
The Skye9 app also provides a platform like chat room where movie lovers can chat about a particular trending movie and other really personal matters of importance over the net.
This comes with end-to-end encryption, such that Skye9 and any other third party cannot have access to such personal chats and audio-visual calls made on the platform. However, comments made on trending movies are not encrypted.
“Content Developer at Skye9, Kemi Brave Akinleye, said Skye9 has also pioneered Video on Demand (VoD) in Africa and delivers one of the easiest, safest and most pocket-friendly means of watching the best of African movie contents. With any Internet enabled device such as desktop computers, laptop, palmtop, and iPads, subscribers can quite easily access Skye9 services,” Akinleye said.
“Our principal target is to make our services easily reachable, thereby reducing the distance between our audience and the movies they love to watch. Our platform at Skye9 is built on a state of the art technology, which makes us a force to reckon with in the industry in Africa,” Akinleye said.
SKYE9 has joined mobile internet TV in Africa with a mission to revolutionise the distribution in Nollywood and other African country movies by legally licensing movies directly from the content owners.
The CEO, Skye9, Oladoye Abayomi Wasiu, assured Nigerians and Africans that he would bring his dynamic business experience to bear, just to give Nigerians and Africans, the best from digital entertainment, especially now that Nigeria is concluding arrangement on digital switchover by June this year.
COVID-19 Plunges Nigeria’s Oil Revenue by 41% in the First Nine Months of 2020
Nigeria’s oil revenue declined by 41.44 percent in the first nine months of 2020 to $2.033 billion, according to the latest data from the Nigerian National Petroleum Corporation, NNPC.
This represents a decline of 41.44 percent from $3.47 billion filed in the same period of 2019 when there was no COVID-19.
In the September 2020 edition of NNPC’s Monthly Financial and Operations Report (MFOR), revenue from oil and gas rose by 16 percent to $120.49 million in the month of September, a 66 percent or $234.81 million drop from $355.3 million posted in the same month of 2019.
The global lockdowns caused by the COVID-19 pandemic plunged Nigeria’s crude oil sales and global demand for the commodity. This was further compounded by Nigeria’s high cost of production compared to Saudi Arabia, Russia and others that were offering discounts to boost sales during one of the most challenging periods in human history.
Experts like Prof. Yinka Omorogbe, President of Nigeria Association of Energy Economics, NAEE, were not surprised with the drop in earnings given the effect of COVID-19 on the world’s economy.
She, however, called for the revamp of the nation’s petroleum sector laws and diversification of the economy away from oil revenue dependence. She said “Covid-19 made 2020 a very hot year and it battered the oil industry internationally and we are not an exception; so we could not have been unaffected”.
She also said the effect of the fall “is definitely a wake-up call; we have to diversify, strengthen our other resources and capabilities”.
Omorogbe, a former NNPC Board Secretary, urged the government and the operators in the sector to look inward and think strategically, stating: “think medium term, think of where they want to be and the government, above all, must think of how best we can utilize our resources, so that we can achieve our objectives once we know and define them.
“It is a clear wake-up call, if not we will just sit here and find that we have become one of the poorest nations in the world”, she noted.
Crude Oil, Other Commodities Closing Price for Monday
Brent crude oil, Nigeria’s crude oil benchmark, gained 47 cents to $55.88 per barrel on Monday, while the US crude oil expanded by 50 cents to $52.77 per barrel.
Gold for February delivery fell $1 to $1,855.20 an ounce. Silver for March delivery fell 7 cents to $25.48 an ounce and March copper was little changed at $3.63 a pound.
The dollar fell to 103.80 Japanese yen from 103.83 yen. The euro fell to $1.2139 from $1.2167.
Wholesale gasoline for February delivery rose 1 cent to $1.56 a gallon. February heating oil rose 2 cents to $1.59 a gallon. February natural gas rose 16 cents to $2.60 per 1,000 cubic feet.
Gold Gained Ahead of Joe Biden Inauguration 2021
Gold price rose from one and a half month low on Tuesday ahead of President-elect Joe Biden’s inauguration on Wednesday.
The precious metal, largely regarded as a haven asset by investors, edged up by 0.2 percent to $1,844.52 per ounce on Tuesday, up from $1,802.61 on Monday.
He said, “The key factor appears to be the (U.S.) currency.”
As expected, a change in administration comes with the change in economic policies, especially taking into consideration the peculiarities of the present situation. In fact, even though Biden, Janet Yellen and the rest of the new cabinet are expected to go all out on additional stimulus with the support of Democrats controlled Houses, economic uncertainties with rising COVID-19 cases and slow vaccine distribution remained a huge concern.
Also, the effectiveness of the vaccines can not be ascertained until wider rollout.
Still, which policy would be halted or sustained by the incoming administration remained a concern that has forced many investors to once again flee other assets for Gold ahead of tomorrow’s inauguration.
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